In this video, I am at a house that is about half way through the rehab process. I showed you this same house in a previous You Tube video when I first got the house back (after the tenants had moved out).
Being that the market is so hot right now, and it’s a great time to be a seller (and not a great time to be a buyer) I am taking advantage of rental properties where the lease expires and the tenant moves out. Normally we would clean up the house, and get a new tenant, but in the market today, I see this as a prime opportunity to take some money off the table by fixing the property up really nicely and then listing on the MLS.
By doing this I am tapping into the feeding frenzy and shortage of homes that are available on the MLS. I am also able to get top dollar since there is very limited inventory competing with me (because there are so few listings on the MLS). This is the tightest inventory I have ever seen on the MLS in almost 20 years of investing in real estate. Like I said it’s a great time to be a seller and a terrible time to be a buyer (unless you buy right).
The house in this video is a wood frame house with stucco on the exterior. Some of the stucco needed to be repaired, so we had a stucco company come in to do that. I also needed to have an alarm system installed because the house was broken into multiple times (see the prior video that shows evidence of the break in).
Now we have had the kitchen cabinets delivered, the flooring is done, and we are working on the bathroom. We should be able to have this house close to being complete in around 3 to 4 weeks. The biggest hold up is getting the granite counter top and appliances (they are both on back order).
This house should be an easy list on the MLS at $195,000. Not bad considered I paid just $32,000 for this house 5 years ago. If you want to learn how to fix and flip houses like this make sure you attend my Fixing and Flipping Houses Boot Camp: https://www.lexlevinrad.com/fixing-and-flipping-boot-camp/
If you want to learn more about my coaching program visit this link: https://www.lexlevinrad.com/coaching/
If you want to learn more about the Lex Levinrad Real Estate Training Program, Real Estate Coaching, how to start investing in real estate, how to buy and hold rental properties, how to wholesale real estate, and how to fix & flip houses, then register for my free real estate training using one of the links below:
HOW TO WHOLESALE & FLIP HOUSES
https://www.lexlevinrad.com/webinar
FIXING AND FLIPPING HOUSES TRAINING
https://www.lexlevinrad.com/fixandflipwebinar
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